Dec 9, 2012 6:30am EST
the cliff than obama is. and i fear that the republicans are going to re-establish their reputation as the tax collectors of the welfare state. >> has president obama's position hardened over the past few days. >> i don't know. i am just thinking how sweet it is what pat just sate. i agreed with everything you just said. i think it is always dangerous to be complacent that there is going to be a deal, given the stakes and the hardened political line, but ever since the speaker put revenue on the table, the republicans have been breaking rank, and i think they really don't want to go down protecting the tax breaks for millionaires and billionaires. and you do see the beginnings of a deal. they will probably drag it out a bit longer, because each side wants to show their base that they're fighting very hard. but i think reasonableness may descend on washington and it is something that we should all applaud. >> ryan grim, do you think we will have reasonable connection on this? >> i don't think so. there was another meeting on thursday, and the white house made it very clear that they'
Dec 9, 2012 3:30pm PST
, or worse. so, president obama is taking action and insisting that republicans agree to increase the existing marginal tax rates on the wealthiest top 2% of u.s. taxpayers. and of course, there is more to the deal. but there will be no negotiations on that big part of the deal unless that tax on the wealthiest 2% is negotiated now. the president could not be more emphatic in stressing the indispensable element of surmounting the cliff is that super-rich revenue. >> we're not insisting on rates just out of spite. or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. >> okay. here is john boehner, the republican house speaker. >> if you look at the plans that the white house have talked about thus far, they couldn't pass either house of the congress. >> republicans proposed raising $800 billion in extra revenues. and that revenue should come through tax reform and closing loopholes. happy new year. question, patrick, looking into the crystal ball and tell us about this january 1 monetary nuclear bomb. are we going over the cliff,